Thomas Russo Gardner Russo & Quinn
Thomas Russo is a partner at Gardner Russo & Quinn and one of the best-known global value investors focused on consumer franchises. He is closely associated with long-term ownership of branded businesses that can reinvest abroad, often summarized as capacity to suffer and capacity to reinvest. Russo’s talks and holdings are staples in global quality-value circles.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$275M |
| 2 |
Cable One
CABO
|
+$82.9M |
| 3 |
Procter & Gamble
PG
|
+$683K |
| 4 |
EVF
Eaton Vance Senior Income Trust
EVF
|
+$221K |
| 5 |
Y
Alleghany Corp
Y
|
+$200K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mastercard
MA
|
+$264M |
| 2 |
JPMorgan Chase
JPM
|
+$73.6M |
| 3 |
Unilever
UL
|
+$63.4M |
| 4 |
Berkshire Hathaway Class A
BRK.A
|
+$60.1M |
| 5 |
Martin Marietta Materials
MLM
|
+$40M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.36% |
| 2 | Consumer Staples | 14.56% |
| 3 | Communication Services | 11.96% |
| 4 | Materials | 4.03% |
| 5 | Consumer Discretionary | 2.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mastercard
MA
$509B
| $1.27B | 11.61% |
3,574,240
-755,866
| -17% | -$264M |
|
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.26B | 11.45% |
3,255
-164
| -5% | -$60.1M |
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $866M | 7.9% |
8,375,180
-268,240
| -3% | -$26.6M |
|
4
Philip Morris
PM
$293B
| $719M | 6.56% |
8,107,660
-299,640
| -4% | -$25.4M |
|
|
5
Unilever
UL
$138B
| $560M | 5.11% |
8,920,380
-995,730
| -10% | -$63.4M |
|
|
6
Berkshire Hathaway Class B
BRK.B
$1.06T
| $507M | 4.63% |
1,984,710
-57,381
| -3% | -$13.9M |
|
|
7
JPMorgan Chase
JPM
$935B
| $469M | 4.28% |
3,079,795
-511,309
| -14% | -$73.6M |
|
|
8
Martin Marietta Materials
MLM
$32.1B
| $427M | 3.89% |
1,270,550
-125,283
| -9% | -$40M |
|
9
Comcast
CMCSA
$95.3B
| $299M | 2.73% |
5,531,300
-183,657
| -3% | -$9.7M |
|
|
10
Alibaba
BABA
$286B
| $254M | 2.32% |
+1,119,994
| New | +$275M |
|
11
Brown-Forman Class A
BF.A
$13.3B
| $190M | 1.73% |
2,982,153
-88,473
| -3% | -$6.03M |
|
|
12
Cable One
CABO
$129M
| $142M | 1.3% |
77,671
+42,425
| +120% | +$82.9M |
|
13
Visa
V
$693B
| $87.9M | 0.8% |
415,066
-35,128
| -8% | -$7.39M |
|
|
14
Brown-Forman Class B
BF.B
$13.1B
| $82.5M | 0.75% |
1,195,565
-63,722
| -5% | -$4.67M |
|
15
Wells Fargo
WFC
$254B
| $46.1M | 0.42% |
1,179,800
-295,902
| -20% | -$10.5M |
|
16
Altria Group
MO
$110B
| $17.3M | 0.16% |
337,615
-22,114
| -6% | -$991K |
|
17
Vulcan Materials
VMC
$35.8B
| $11.4M | 0.1% |
67,500
-870
| -1% | -$141K |
|
18
ExxonMobil
XOM
$679B
| $9.83M | 0.09% |
176,007
+568
| +0.3% | +$29.8K |
|
19
Crane NXT
CXT
$2.89B
| $7.85M | 0.07% |
240,549
-19,954
| -8% | -$592K |
|
20
Markel Group
MKL
$22.2B
| $7.65M | 0.07% |
6,712
-60
| -0.9% | -$64.7K |
|
21
Hormel Foods
HRL
$13.1B
| $6.83M | 0.06% |
143,021
-1,050
| -0.7% | -$49.6K |
|
22
Outfront Media
OUT
$5.25B
| $6.72M | 0.06% |
313,007
-12,473
| -4% | -$254K |
|
23
American Express
AXP
$227B
| $6.3M | 0.06% |
44,566
-21,400
| -32% | -$2.83M |
|
|
24
Procter & Gamble
PG
$336B
| $5.77M | 0.05% |
42,583
+5,231
| +14% | +$683K |
|
25
Dover
DOV
$27.2B
| $4.76M | 0.04% |
34,682
-2,052
| -6% | -$261K |
|
Similar funds
Thomas Russo's Q1 2021 Portfolio in Review
As of Q1 2021, Thomas Russo held 94 positions worth $11B, down 0.56% from $11B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Thomas Russo withdrew a net $356M in Q1 2021, closing 4 positions and reducing 59 holdings. Its most notable exit was Diageo, an estimated $10.4M position sold in full.
By sector, the portfolio is most concentrated in Financials at 33% of assets, down from 35% a quarter earlier, followed by Consumer Staples and Communication Services.
Against the trend, Thomas Russo opened a new position in Alibaba worth $254M.
- Thomas Russo's largest Q1 2021 buy was Alibaba: 1,119,994 shares worth $254M.
- Thomas Russo added most to Cable One in Q1 2021, an estimated $82.9M increase.
- Thomas Russo's biggest Q1 2021 reduction was Mastercard, cutting an estimated $264M.
- Thomas Russo fully exited Diageo in Q1 2021, selling an estimated $10.4M.
- Thomas Russo's ten largest holdings make up 76% of its $11B portfolio in Q1 2021.
- Thomas Russo opened 2 new positions and closed 4 in Q1 2021.
- Thomas Russo's portfolio value fell 0.56% quarter-over-quarter to $11B.
Based on Gardner Russo & Quinn's 13F filing for Q1 2021, filed 12 May 2021.